Tag Archives: Baker Hughes

U.S. oil producers added 21 oil rigs in the past week, the most in over a year, data showed on Friday, suggesting that drillers were moving more aggressively than expected, just before crude prices’ latest dive down. Oil producers, who cut rigs in the face of falling prices late last year, began to add rigs back in the week ending ...

SINGAPORE – Oil prices slipped lower in early Asian trade on Monday after closing the previous session at their lowest level since March on renewed oversupply concerns after data showed U.S. drilling activity increased last week. U.S. oil producers added 21 oil rigs last week, the biggest rise since April 2014, oil services company Baker Hughes Inc BHI.N said in ...

Permian Basin producers added another three rigs in the week ending Friday, according to the widely-watched Baker Hughes rig count. But observers met the ongoing uptick in drilling activity with concern that it might be short-lived, after another dip in oil prices in July threatened to erase the gains of the previous months. The latest build in Permian rigs left ...

Here are the top five stories from Bakken.com for the week of July 18th through July 24th. Enjoy! 5. ND cracks down on illegal water sales in the Bakken The North Dakota State Water Commission is cracking down on illegal industrial water sales in the Bakken oil fields where massive volumes of water are required for drilling operations, reports the ...

Halliburton Co <HAL.N> said it had tapped BlackRock Inc <BLK.N> for $500 million to help fund drilling in existing shale wells, the first such move by a major oilfield services provider at a time when oil producers are shying away from drilling new wells. The world’s No.2 oilfield services provider, which is buying No.3 Baker Hughes Inc <BHI.N> to cope ...

NEW YORK – Brent and U.S. crude slipped in choppy trading along with the seesawing dollar after the currency’s early strength pressured dollar-denominated commodities. Limiting crude futures’ losses were falling Saudi crude exports and last week’s industry data showing a lower U.S. oil rig count. U.S. refined products futures also oscillated on Monday. An increasing supply of refined products, especially ...

U.S. energy firms cut seven oil rigs this week after adding rigs for the last two weeks as U.S. crude prices fell nearly 15 percent this month in the biggest slump since December, data showed on Friday, a sign some drillers were waiting for higher prices before returning to the well pad. That was the 30th weekly oil rig decline ...

The mega-merger between the world’s second and third largest oil field service companies will grant U.S. antitrust regulators additional time to review the deal. The two companies, Halliburton and Baker Hughes, have entered into a timing agreement with the Antitrust Division of the U.S. Department of Justice (DOJ). The review process of the merger, valued at $34.6 billion, will be ...

U.S. energy firms added five oil rigs this week, the second week of increases in a row, despite a 19 percent collapse in U.S. crude prices from a recent high, data showed on Friday, a sign drillers were ready to return to the well pad. The gains came after 29 consecutive weeks of declines, bringing the total rig count up ...

U.S. shale exploration and production company Pioneer Natural Resources Co said on Wednesday it is increasing drilling activity in Texas following the sale of its stake in an Eagle Ford shale pipeline and processing business. The Dallas company’s optimism stands out in a market unnerved by a 15 percent drop in crude prices since late June. Pioneer Chief Executive Scott ...

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